Cisco Systems, Inc. (CSCO) Position Lifted by Peachtree Investment Advisors Inc.
Peachtree Investment Advisors Inc. lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 49,113 shares of the network equipment provider’s stock after acquiring an additional 1,475 shares during the period. Cisco Systems accounts for approximately 1.4% of Peachtree Investment Advisors Inc.’s portfolio, making the stock its 23rd biggest position. Peachtree Investment Advisors Inc.’s holdings in Cisco Systems were worth $1,881,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Richard Bernstein Advisors LLC grew its position in Cisco Systems by 21.2% during the 2nd quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock worth $8,434,000 after purchasing an additional 47,211 shares during the last quarter. Pzena Investment Management LLC grew its position in Cisco Systems by 0.4% during the 3rd quarter. Pzena Investment Management LLC now owns 2,517,046 shares of the network equipment provider’s stock worth $84,648,000 after purchasing an additional 10,265 shares during the last quarter. Forward Management LLC purchased a new position in Cisco Systems during the 3rd quarter worth $869,000. Aviva PLC grew its position in Cisco Systems by 6.5% during the 2nd quarter. Aviva PLC now owns 4,769,809 shares of the network equipment provider’s stock worth $149,343,000 after purchasing an additional 289,899 shares during the last quarter. Finally, Troy Asset Management Ltd grew its position in Cisco Systems by 15.0% during the 3rd quarter. Troy Asset Management Ltd now owns 117,250 shares of the network equipment provider’s stock worth $3,943,000 after purchasing an additional 15,250 shares during the last quarter. 76.70% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have issued reports on CSCO shares. Vetr raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.49 price objective on the stock in a research report on Monday, November 13th. Wells Fargo & Co reissued an “outperform” rating and set a $42.00 price objective on shares of Cisco Systems in a research report on Tuesday, November 14th. Royal Bank of Canada reissued a “buy” rating and set a $36.00 price objective on shares of Cisco Systems in a research report on Wednesday, November 15th. Barclays raised their price objective on shares of Cisco Systems from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, November 16th. Finally, Citigroup reaffirmed a “buy” rating and issued a $40.00 target price on shares of Cisco Systems in a report on Thursday, November 16th. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $44.04.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.82 billion. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. During the same period in the prior year, the company posted $0.57 earnings per share. research analysts anticipate that Cisco Systems, Inc. will post 2.32 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Thursday, April 5th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.91%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, April 4th. Cisco Systems’s dividend payout ratio is -362.50%.
Cisco Systems declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 14th that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the network equipment provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Roderick C. Mcgeary sold 15,230 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $38.00, for a total transaction of $578,740.00. Following the completion of the transaction, the director now owns 113,154 shares in the company, valued at $4,299,852. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rebecca Jacoby sold 75,021 shares of the company’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the transaction, the senior vice president now owns 257,476 shares of the company’s stock, valued at approximately $9,892,227.92. The disclosure for this sale can be found here. Insiders have sold 116,566 shares of company stock worth $4,636,938 over the last three months. 0.05% of the stock is owned by corporate insiders.
Cisco Systems Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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